[Federal Register Volume 86, Number 43 (Monday, March 8, 2021)]
[Notices]
[Pages 13380-13381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04660]


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FEDERAL RESERVE SYSTEM


Proposed Agency Information Collection Activities; Comment 
Request

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Notice, request for comment.

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SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
invites comment on a proposal to extend for three years, without 
revision, the Recordkeeping Requirements Associated with Regulation GG 
(FR GG; OMB No. 7100-0317).

DATES: Comments must be submitted on or before May 7, 2021.

ADDRESSES: You may submit comments, identified by FR GG, by any of the 
following methods:
     Agency Website: https://www.federalreserve.gov/. Follow 
the instructions for submitting comments at https://www.federalreserve.gov/apps/foia/proposedregs.aspx.
     Email: [email protected]. Include the OMB 
number in the subject line of the message.
     FAX: (202) 452-3819 or (202) 452-3102.
     Mail: Ann E. Misback, Secretary, Board of Governors of the 
Federal Reserve System, 20th Street and Constitution Avenue NW, 
Washington, DC 20551.
    All public comments are available from the Board's website at 
https://www.federalreserve.gov/apps/foia/proposedregs.aspx as 
submitted, unless modified for technical reasons or to remove 
personally identifiable information at the commenter's request. 
Accordingly, comments will not be edited to remove any identifying or 
contact information. Public comments may also be viewed electronically 
or in paper in Room 146, 1709 New York Avenue NW, Washington, DC 20006, 
between 9:00 a.m. and 5:00 p.m. on weekdays. For security reasons, the 
Board requires that visitors make an appointment to inspect comments. 
You may do so by calling (202) 452-3684. Upon arrival, visitors will be 
required to present valid government-issued photo identification and to 
submit to security screening in order to inspect and photocopy 
comments.
    Additionally, commenters may send a copy of their comments to the 
Office of Management and Budget (OMB) Desk Officer--Shagufta Ahmed--
Office of Information and Regulatory Affairs, Office of Management and 
Budget, New Executive Office Building, Room 10235, 725 17th Street NW, 
Washington, DC 20503, or by fax to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance 
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of 
Governors of the Federal Reserve System, Washington, DC 20551, (202) 
452-3829.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the PRA to approve and assign OMB control numbers to 
collections of information conducted or sponsored by the Board. In 
exercising this delegated authority, the Board is directed to take 
every reasonable step to solicit comment. In determining whether to 
approve a collection of information, the Board will consider all 
comments received from the public and other agencies.
    A copy of the Paperwork Reduction Act (PRA) OMB submission, 
including the reporting form and instructions, supporting statement, 
and other documentation will be available at

[[Page 13381]]

https://www.reginfo.gov/public/do/PRAMain, if approved. These documents 
will also be made available on the Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested 
from the agency clearance officer, whose name appears above.

Request for Comment on Information Collection Proposal

    The Board invites public comment on the following information 
collection, which is being reviewed under authority delegated by the 
OMB under the PRA. Comments are invited on the following:
    a. Whether the proposed collection of information is necessary for 
the proper performance of the Board's functions, including whether the 
information has practical utility;
    b. The accuracy of the Board's estimate of the burden of the 
proposed information collection, including the validity of the 
methodology and assumptions used;
    c. Ways to enhance the quality, utility, and clarity of the 
information to be collected;
    d. Ways to minimize the burden of information collection on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and
    e. Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.
    At the end of the comment period, the comments and recommendations 
received will be analyzed to determine the extent to which the Board 
should modify the proposal.

Proposal Under OMB Delegated Authority To Extend for Three Years, 
Without Revision, the Following Information Collection

    Report title: Recordkeeping Requirements Associated with Regulation 
GG.
    Agency form number: FR GG.
    OMB control number: 7100-0317.
    Frequency: Annually.
    Respondents: Depository institutions, credit unions, card system 
operators, and money transmitting business operators.
    Estimated number of respondents: Depository institutions: 2,331; 
credit unions: 2,575; card system operators: 7; money transmitting 
business operators: 62; and new or de novo institutions: 3.
    Estimated average hours per response: Ongoing annual burden of 8 
hours per recordkeeper for depository institutions, credit unions, card 
system operators, and money transmitting business operators. Onetime 
burden of 100 hours for new or de novo institutions.
    Estimated annual burden hours: Ongoing burden: 39,800; one-time 
burden: 300.
    General description of report: Section 5 of Regulation GG, 
Prohibition on Funding of Unlawful internet Gambling, requires all non-
exempt participants in the designated payment systems to establish and 
implement policies and procedures reasonably designed to identify and 
block, or otherwise prevent or prohibit, transactions restricted by the 
Unlawful internet Gambling Enforcement Act of 2006.\1\ In addition, 
section 5 states that a participant in a designated payment system may 
rely on policies and procedures established by the designated payment 
system if the system's policies and procedures otherwise comply with 
the requirements of the regulation.\2\
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    \1\ 12 CFR 233.5(a).
    \2\ 12 CFR 233.5(b).
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    Section 6 of Regulation GG sets out non-exclusive examples of 
policies and procedures for each designated payment system that the 
Board and the Department of the Treasury believe are reasonably 
designed to prevent or prohibit restricted transactions for non-exempt 
participants in the system.\3\
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    \3\ See 12 CFR 233.6.
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    The internal agency tracking number previously assigned by the 
Board to this information collection was ``FR 4026.'' The Board is 
changing the internal agency tracking number to ``FR GG'' for the 
purpose of consistency.
    Legal authorization and confidentiality: FR GG is authorized by 
section 802 of the Unlawful internet Gambling Enforcement Act, which 
permits the Board to prescribe regulations requiring designated payment 
systems and participants therein to establish policies and procedures 
to identify and block or otherwise prevent and prohibit restricted 
transactions (31 U.S.C. 5364(a)). The obligation to respond is 
mandatory.
    The policies and procedures required by Regulation GG are not 
required to be submitted to the Board. To the extent such policies and 
procedures are obtained by the Board through the examination process, 
they may be kept confidential under exemption 8 of the Freedom of 
Information Act, which protects information contained in or related to 
an examination of a financial institution (5 U.S.C. 552(b)(8)).
    Consultation outside the agency: The Board has consulted with the 
Department of the Treasury regarding this information collection 
renewal.

    Board of Governors of the Federal Reserve System, March 1, 2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-04660 Filed 3-5-21; 8:45 am]
BILLING CODE 6210-01-P